Finding 1870 $20 Gold Double Eagles in the Wild: A Cherry Picker’s Guide

Introduction: The Thrill of the Hunt

You don’t always need a dealer to find this. Here is what to look for when searching through circulation or bulk lots.

Roll hunting and cherry picking remain some of the most exciting aspects of numismatics. While most collectors focus on purchasing certified coins from reputable dealers, there’s a special thrill in discovering valuable pieces yourself, hidden among ordinary lots. Today, we’re diving into the world of 1870 $20 Liberty Head Double Eagles – coins that occasionally surface in unexpected places and can reward the sharp-eyed collector with significant finds.

Historical Significance of the 1870 Double Eagle

The $20 Liberty Head Double Eagle, designed by James B. Longacre, represents one of the most iconic gold coins in American history. First minted in 1849 following the California Gold Rush, these hefty gold pieces contained nearly an ounce of pure gold and served as the highest denomination circulating coin in U.S. history.

The year 1870 holds particular significance as it marked continued production across multiple mints following the Civil War. After the turmoil of the 1860s, the U.S. Mint had expanded operations to meet the nation’s growing economic needs. The 1870 Double Eagle was produced at three different facilities: Philadelphia (no mint mark), San Francisco (S), and the newly established Carson City Mint (CC).

Why 1870 Matters to Collectors

The 1870 Double Eagle series offers collectors several interesting varieties and challenges. The Philadelphia issue had a mintage of approximately 104,000 pieces, while San Francisco produced around 86,000. Carson City, however, struck only 35,406 pieces – making the 1870-CC one of the more elusive dates in the Carson City series.

What makes these coins particularly interesting for roll hunters is that they occasionally appear in unexpected places. Estate sales, forgotten safe deposit boxes, and even old family collections sometimes yield these gold treasures. The key is knowing what to look for and understanding the subtle differences between mint marks.

Identifying Key Markers: Decoding the Mint Marks

When examining a 1870 $20 gold piece, the first thing to check is the reverse side, below the eagle. You’ll find the mint mark positioned there – or in some cases, you might need to do some detective work if the mark has been obscured by wear or contact marks.

For the 1870 date specifically, you’ll be looking for either no mark (Philadelphia), “S” (San Francisco), or “CC” (Carson City). In one recent forum discussion, a collector shared images of what appeared to be a 1872 specimen where the mint mark looked like a “2” – likely due to damage or wear that distorted the original letter.

Philadelphia Issues (1870)

The Philadelphia 1870 Double Eagle carries no mint mark. These coins typically had the highest survival rate since they were distributed nationwide and many were saved as keepsakes. When examining potential Philadelphia specimens, look for the clean reverse field below the eagle – if there’s no visible mark, you may have found one of these.

San Francisco Issues (1870-S)

The San Francisco mint produced 1870-S Double Eagles with the distinctive “S” mint mark. These coins often show sharper strikes due to the mint’s superior equipment and techniques. The “S” mark is typically clear and well-defined, though wear can sometimes make it appear faint or distorted.

Carson City Issues (1870-CC)

The rarest of the three, the 1870-CC Double Eagle features the famous “CC” mint mark. This two-letter designation is positioned below the eagle on the reverse. Carson City coins often show characteristics of the harder gold ore from Nevada, sometimes resulting in a slightly different coloration or strike quality.

The Art of Cherry Picking: What to Look For

When searching through bulk lots, estate sales, or even coin shops, certain characteristics can help you identify potential 1870 Double Eagles worth closer examination.

Visual Inspection Tips

Start by examining the coin’s overall appearance. Liberty Head Double Eagles have a distinctive design featuring Lady Liberty facing left on the obverse, wearing a coronet inscribed with “LIBERTY.” The reverse displays a heraldic eagle with a shield, holding arrows and an olive branch.

Look for the date “1870” on the obverse – this should be clearly visible, though wear may affect the numerals. The coin’s substantial size (34mm diameter) and weight (approximately 33.4 grams) make it feel significant in hand.

Checking the Mint Mark

As one experienced collector noted in a forum discussion, “Process of elimination. It’s either S or CC.” This observation highlights an important point – if you can clearly see a single letter mint mark, it must be an “S” for San Francisco, since Carson City used a two-letter designation.

However, be cautious about damaged or worn marks. In another case, a collector thought they saw a “2” where a mint mark should be – likely the result of a contact mark or wear that distorted the original letter. Using magnification and proper lighting can help clarify ambiguous markings.

Weight and Metal Composition

Authentic 1870 Double Eagles contain 90% gold and 10% copper, weighing 33.436 grams with a net gold content of 0.9675 troy ounces. While you shouldn’t test this in the field, being aware of these specifications can help you spot obvious counterfeits or modern replicas.

Where to Find These Hidden Treasures

The thrill of roll hunting lies in knowing where to look. Here are the best places to search for 1870 Double Eagles and other valuable coins:

Estate Sales and Auctions

Old family collections often contain gold coins that have been forgotten for generations. Estate sales, particularly those of older individuals or families with historical ties, can yield surprising finds. Look for lots described as “old gold coins” or “vintage currency” – these may contain hidden gems.

Bank Rolls and Bulk Lots

While finding gold coins in bank rolls is increasingly rare, it’s not impossible. Some collectors have reported finding older coins mixed with modern currency. Similarly, bulk lots from coin dealers or online auctions might contain overlooked valuable pieces.

Flea Markets and Antique Shops

Small antique shops and flea market dealers often don’t recognize the value of what they have. A coin might be priced based on its gold content alone, without consideration for its numismatic value or rarity.

Online Marketplaces and Forums

Online platforms can be goldmines for cherry pickers, though they require careful research and authentication skills. Forums and collector communities often have sections for buying, selling, and trading where knowledgeable collectors might spot undervalued items.

Authentication and Grading Considerations

Once you’ve identified a potential 1870 Double Eagle, proper authentication becomes crucial. Here’s what to consider:

Professional Grading

Professional grading services like PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) can authenticate and grade your coin. For valuable pieces like 1870 Double Eagles, this certification can significantly impact value and marketability.

Red Flags to Watch For

Be aware of common counterfeiting techniques. Modern counterfeits might have incorrect weight, improper edge reeding, or details that don’t match authentic specimens. The 1870 date should have specific characteristics in the numeral styling that experienced collectors can identify.

Preservation Tips

If you do find a valuable specimen, handle it carefully by the edges only. Avoid cleaning the coin, as this can significantly reduce its value. Store it in a proper holder that protects it from environmental damage.

Value Guide: What Are These Coins Worth?

The value of 1870 Double Eagles varies dramatically based on condition, mint mark, and market conditions. Here’s a general overview:

1870 (Philadelphia) Values

In circulated condition, these typically range from $2,500 to $4,000 based on gold content and collector demand. Uncirculated specimens can command $10,000 to $30,000 or more, depending on grade.

1870-S (San Francisco) Values

The San Francisco issue often carries a premium over the Philadelphia version. Circulated examples might sell for $3,000 to $5,000, while high-grade specimens can reach $15,000 to $40,000.

1870-CC (Carson City) Values

As the rarest of the three, the 1870-CC commands significant premiums. Even well-worn examples typically start around $5,000, with high-grade specimens potentially reaching six figures at auction.

Real Collector Stories: Success in the Field

The forum discussion that inspired this article demonstrates how collectors help each other identify valuable finds. When one collector posted images of a potentially valuable coin, the community quickly identified the mint mark through careful analysis and process of elimination.

This collaborative spirit is part of what makes numismatics such an engaging hobby. Experienced collectors share their knowledge, helping newcomers learn to spot valuable pieces. The discussion about the “2” that turned out to be an “S” shows how even experienced eyes can be fooled by wear and damage – and how community knowledge helps solve these mysteries.

Conclusion: The Ongoing Hunt

Finding a valuable 1870 $20 Double Eagle in the wild remains one of numismatics’ greatest thrills. While these coins are becoming increasingly rare in circulation, the dedicated cherry picker still has opportunities to uncover hidden treasures.

The key is education, patience, and attention to detail. By understanding what to look for – the distinctive design elements, the proper mint mark locations, and the characteristics of authentic specimens – you increase your chances of making that once-in-a-lifetime discovery.

Remember the words from our forum discussion: “Process of elimination. It’s either S or CC.” Sometimes, finding valuable coins is as much about knowing what something isn’t as knowing what it is. Keep hunting, stay educated, and who knows? Your next bulk lot purchase might contain a piece of American gold history waiting to be rediscovered.

Happy hunting, and may your next roll contain something extraordinary!

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